Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Over/Under Account the Minimum Over/Under Account Balance as required hereunder, in addition to any other rights and remedies that Buyer may have against Seller, Buyer shall have the right to immediately stop entering into Transactions with Seller and/or to charge Seller accrued interest on that portion of the Minimum Over/Under Account Balance that Seller has failed to maintain, at the Default Rate, from the time that such balance failed to be maintained until the time that funds are deposited into or held in the Over/Under Account to comply with such Minimum Over/Under Account Balance requirements hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Seller will continue to owe Buyer accrued interest as provided herein.
Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Wire-out Account a minimum balance of $0.00 as required hereunder and under the Custodial Agreement, Buyer shall have the right to immediately stop entering into Transactions with Seller that would require amounts from the Wire-out Account until such time as Seller has made an appropriate deposit into the Wire-out Account such that a minimum balance of $0.00 is on deposit in the Wire-out Account as required hereunder and the Custodial Agreement.
Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Over/Under Account the Minimum Required Balance hereunder, in addition to any other rights and remedies that Buyer may have against Seller, Buyer shall have the right to immediately stop entering into Transactions with Seller until the time that funds are deposited into or held in the Over/Under Account to comply with such Minimum Required Balance hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Seller will continue to owe Buyer accrued interest as provided herein.
Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Over/Under Account the minimum margin balance as required hereunder, in addition to any other rights and remedies that Buyer may have against loanDepot Parties, Buyer shall have the right, at its sole and good faith discretion, to immediately stop entering into Transactions with Seller and/or to charge Seller accrued interest on that portion of the minimum margin balance that Seller has failed to maintain, at the Default Rate, from the time that such balance failed to be maintained until the time that funds are deposited into or held in the Over/Under Account to comply with such minimum margin balance requirements hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Seller will continue to owe Buyer accrued interest as provided herein.
Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Over/Under Account the balance set forth in the Commitment Letter, in addition to any other rights and remedies that Buyer may have against Seller, Seller will be obligated to pay Buyer accrued interest on that portion of the balance that Seller has failed to maintain, at the Post-Default Rate, from the time that such balance failed to be maintained until the time funds are deposited into or held in the Over/Account to comply with Seller’s obligations hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Seller will continue to owe Buyer accrued interest as provided herein.
Failure to Maintain Balance. If, at any time, there is a negative balance in the Over/Under Account, in addition to any other rights and remedies that Buyer may have against Seller, Buyer shall have the right to immediately stop entering into Transactions with Seller and/or to charge Seller accrued interest on the negative balance in the Over/Under Account, at the Default Rate, from the time that such balance became a negative balance until the time that funds are deposited into or held in the Over/Under Account to cause a positive balance in the Over/Under Account.
Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Over/Under Account the Minimum Over/Under Account Balance as required hereunder, in addition to any other rights and remedies that Administrative Agent or a Buyer may have against Seller, Administrative Agent on behalf of Buyers shall have the right to immediately stop entering into Transactions with Seller and/or to charge Seller accrued interest on that portion of the Minimum Over/Under Account Balance that Seller has failed to maintain, at the Default Rate, from the time that such balance failed to be maintained until the time that funds are deposited into or held in the Over/Under Account to comply with such Minimum Over/Under Account Balance requirements hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Seller will continue to owe Administrative Agent for the benefit of Buyers accrued interest as provided herein.
Failure to Maintain Balance. If, at any time, Borrower fails to maintain $250,000 (the “Minimum Balance”) in the Over/Under Account, Borrower shall deposit sufficient funds into the Over/Under Account by the close of business the next Business Day to maintain such Minimum Balance. It is understood and agreed that the current balance in the Over/Under Account, according to Lender’s records, will be available on Lender’s customer website(s) and it shall be the responsibility of Borrower to monitor the balance in the Over/Under Account to comply with its obligations hereunder. In the event Borrower fails to maintain such Minimum Balance as required herein, in addition to any other rights and remedies that Lender may have against Borrower, Borrower will be obligated to pay Lender accrued interest on that portion of the balance that Borrower has failed to maintain, at the Default Rate, from the time that such balance failed to be maintained until the time funds are deposited into or held in the Over/Account to comply with Borrower’s obligations hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Borrower will continue to owe Lender accrued interest as provided herein.
Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Over/Under Account the Minimum Over/Under Account Balance as required hereunder, in addition to any other rights and remedies that Buyer may have against Seller, Buyer shall have the right to immediately stop entering into Transactions with Seller and/or to charge Seller accrued interest on that portion of the Minimum Over/Under Account Balance that Seller has failed to maintain, at a rate equal to the product of (i) One-Month LIBOR and (ii) the Type Margin for Type A Eligible Mortgage Loans as set forth in the Transactions Terms Letter, from the time that such balance failed to be maintained until the time that funds are deposited into or held in the Over/Under Account to comply with such Minimum Over/Under Account Balance requirements hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Seller will continue to owe Buyer accrued interest as provided herein.
Failure to Maintain Balance. If, at any time, Borrower fails to maintain in the Over/Under Account the balance set forth in the Commitment Letter, in addition to any other rights and remedies that Lender may have against Borrower, Borrower will be obligated to pay Lender accrued interest on that portion of the balance that Borrower has failed to maintain, at the Default Rate, from the time that such balance failed to be maintained until the time funds are deposited into or held in the Over/Account to comply with Borrower's obligations hereunder. Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Borrower will continue to owe Lender accrued interest as provided herein.
